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Develop green bank for renewable energy: NRDC-CEEW report

Solar and wind energy provides a tremendous opportunity to provide light to Indian homes and jobs to local communities, says Suresh Prabhu

BS B2B Bureau  |  New Delhi 

The government should consider developing a and green bonds (capitalised through the National Clean Energy Fund, issued by the central or state governments) to leverage more private investment in renewable energy, according to a report on ‘jobs and finance’ published by the (NRDC) and the Council on Energy, (CEEW). The report, which assess domestic and international opportunities to fund clean energy in India, was released by Suresh Prabhu, head of the Advisory Group for Integrated Development of Power, Coal and recently.
 
“Energy access and clean energy development is a national priority. Solar and provides a tremendous opportunity to provide light to Indian homes and jobs to local communities,” said Prabhu.
 
According to NRDC-analysis, India’s solar and wind programs have catalysed rapid growth providing much needed energy access, creating employment opportunities for India’s workforce. The analysis also finds that deployment of innovative financing solutions is needed in order to scale India’s markets and widespread job creation.
 
The Indian solar industry has been maturing at a rapid pace, growing more than a hundredfold in four years to reach over 2.6 gigawatts (GW) of installed capacity in 2014. India is the world’s fifth largest producer, with over 20 GW of installed capacity.
 
According to NRDC-report, Indian government should boost financing for projects by improving access to low cost finance, using diverse financial mechanisms such as infrastructure debt funds, priority sector lending and tax incentives (such as accelerated depreciation and tradable tax certificates). It recommends implementation of generation based incentives and penalties in combination with any form of viability gap or tax related capital subsidies.
 
“Clean energy development is vital to economic growth in India. While the National Solar Mission and the proposed National Wind Mission still face significant hurdles, India has already made important strides to attract new domestic and international players into the market and generate local jobs,” said Anjali Jaiswal, Director of Natural Resources Defense Council’s India Initiative.
 
Dr Arunabha Ghosh, CEO of CEEW, added, “As nations race to become clean energy leaders, governments around the world will be closely following the progress of India’s revolution. It is essential that the Indian government adapts its strategy to boost confidence in projects and spur investment from a variety of funding sources and financial institutions.”

First Published: Wed, August 27 2014. 17:30 IST
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Develop green bank for renewable energy: NRDC-CEEW report

Solar and wind energy provides a tremendous opportunity to provide light to Indian homes and jobs to local communities, says Suresh Prabhu

Solar and wind energy provides a tremendous opportunity to provide light to Indian homes and jobs to local communities, says Suresh Prabhu The government should consider developing a and green bonds (capitalised through the National Clean Energy Fund, issued by the central or state governments) to leverage more private investment in renewable energy, according to a report on ‘jobs and finance’ published by the (NRDC) and the Council on Energy, (CEEW). The report, which assess domestic and international opportunities to fund clean energy in India, was released by Suresh Prabhu, head of the Advisory Group for Integrated Development of Power, Coal and recently.
 
“Energy access and clean energy development is a national priority. Solar and provides a tremendous opportunity to provide light to Indian homes and jobs to local communities,” said Prabhu.
 
According to NRDC-analysis, India’s solar and wind programs have catalysed rapid growth providing much needed energy access, creating employment opportunities for India’s workforce. The analysis also finds that deployment of innovative financing solutions is needed in order to scale India’s markets and widespread job creation.
 
The Indian solar industry has been maturing at a rapid pace, growing more than a hundredfold in four years to reach over 2.6 gigawatts (GW) of installed capacity in 2014. India is the world’s fifth largest producer, with over 20 GW of installed capacity.
 
According to NRDC-report, Indian government should boost financing for projects by improving access to low cost finance, using diverse financial mechanisms such as infrastructure debt funds, priority sector lending and tax incentives (such as accelerated depreciation and tradable tax certificates). It recommends implementation of generation based incentives and penalties in combination with any form of viability gap or tax related capital subsidies.
 
“Clean energy development is vital to economic growth in India. While the National Solar Mission and the proposed National Wind Mission still face significant hurdles, India has already made important strides to attract new domestic and international players into the market and generate local jobs,” said Anjali Jaiswal, Director of Natural Resources Defense Council’s India Initiative.
 
Dr Arunabha Ghosh, CEO of CEEW, added, “As nations race to become clean energy leaders, governments around the world will be closely following the progress of India’s revolution. It is essential that the Indian government adapts its strategy to boost confidence in projects and spur investment from a variety of funding sources and financial institutions.”
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Business Standard
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Develop green bank for renewable energy: NRDC-CEEW report

Solar and wind energy provides a tremendous opportunity to provide light to Indian homes and jobs to local communities, says Suresh Prabhu

The government should consider developing a and green bonds (capitalised through the National Clean Energy Fund, issued by the central or state governments) to leverage more private investment in renewable energy, according to a report on ‘jobs and finance’ published by the (NRDC) and the Council on Energy, (CEEW). The report, which assess domestic and international opportunities to fund clean energy in India, was released by Suresh Prabhu, head of the Advisory Group for Integrated Development of Power, Coal and recently.
 
“Energy access and clean energy development is a national priority. Solar and provides a tremendous opportunity to provide light to Indian homes and jobs to local communities,” said Prabhu.
 
According to NRDC-analysis, India’s solar and wind programs have catalysed rapid growth providing much needed energy access, creating employment opportunities for India’s workforce. The analysis also finds that deployment of innovative financing solutions is needed in order to scale India’s markets and widespread job creation.
 
The Indian solar industry has been maturing at a rapid pace, growing more than a hundredfold in four years to reach over 2.6 gigawatts (GW) of installed capacity in 2014. India is the world’s fifth largest producer, with over 20 GW of installed capacity.
 
According to NRDC-report, Indian government should boost financing for projects by improving access to low cost finance, using diverse financial mechanisms such as infrastructure debt funds, priority sector lending and tax incentives (such as accelerated depreciation and tradable tax certificates). It recommends implementation of generation based incentives and penalties in combination with any form of viability gap or tax related capital subsidies.
 
“Clean energy development is vital to economic growth in India. While the National Solar Mission and the proposed National Wind Mission still face significant hurdles, India has already made important strides to attract new domestic and international players into the market and generate local jobs,” said Anjali Jaiswal, Director of Natural Resources Defense Council’s India Initiative.
 
Dr Arunabha Ghosh, CEO of CEEW, added, “As nations race to become clean energy leaders, governments around the world will be closely following the progress of India’s revolution. It is essential that the Indian government adapts its strategy to boost confidence in projects and spur investment from a variety of funding sources and financial institutions.”

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Business Standard
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